Category: FinTech

Stay up to date on the latest trends in FinTech – where technology meets finance to create new market opportunities.

Alloy Announces Additional $52 Million for Series C

A FinTech that helps other FinTechs as well as banks to better automate their decision-making process has raised more money on top of its recent "megaround." Last week, Alloy announced that it had raised another $52 million, with the latest round valuing the company at $1.55 billion. These funds add to the company's previously-announced $100 million Series C nearly one year ago. The round was led by Lightspeed Venture Partners...

FTC Orders Credit Karma to Halt "Pre-Approved" Offers

For years, the free credit score site Credit Karma has grown in popularity, becoming a default option for many consumers curious about their credit. While the site has remained free to use, one of the ways the company has monetized is by offering credit card referrals to customers, with many of these suggestions being accompanied by a rating of how likely a customer was to be approved based on certain...

"Donate Now, Pay Later" Platform B Generous Officially Launches

Over the past couple of years, the "buy now, pay later" (BNPL) craze has exploded. Companies such as Klarna, Afterpay, and others have popularized the practice of financing purchases over the course of four payments (and without interest) — with Apple soon set to join the fray as well. In turn, a new FinTech is looking to take the concept in a different direction by introducing "Donate Now, Pay Later"...

Payments Platform Highline Closes $13 Million Funding Round

A payment platform that could benefit both consumers and lenders has closed a significant early-stage funding round. This week, Highline Technologies announced that it had raised $13 million. The Series A was led by Jump Capital, Costanoa Ventures, and Foundation Capital with participation from other investors. It also follows a $4.5 million seed round that Highline raised in February. With the added funds, the company plans to continuing fueling its growth, including hiring more...

Pomelo Announces $20 Million Venture Capital Funding Round

A FinTech with a unique way to help families send money across borders is exiting "stealth mode" and announcing a seed round. This week, Pomelo announced that it had raised $20 million. In addition to the venture capital, the company also secured $50 million in warehouse facility.  Keith Rabois of Founders Fund and Xoom co-founder Kevin Hartz led the round while Afore Capital, Xfund, Josh Buckley, The Chainsmokers, and Abel Tesfaye...

Zogo, MoneyLion Partner to Provide Users with Financial Education

In recent years, FinTech brands have often discussed how their platforms help make financial services more accessible. Furthermore, many have touted the educational resources they offer alongside these tools, increasing financial literacy as a result. Now, a popular neobank and a growing educational app are teaming up to help meet a similar goal. This week, Zogo and MoneyLion announced a new partnership. With this integration, MoneyLion users will be able...

Income Verification Startup Truework Raises $50 Million

A company that helps lenders close loans with greater ease and speed has secured a significant funding round. This week, Truework announced that it had raised $50 million. The Series C was led by G Squared with participation from returning investors Sequoia Capital, Activant Capital, and Khosla Ventures as well as newcomers Indeed, Human Capital, and Four Rivers Group. With the funds, Truework intends to increase its hiring, while also...

What Happens When a FinTech App Shuts Down?

Lately, it seems as though there's been a lot of bad news looming over the FinTech sector. Obviously cryptocurrency firms are the largest example of this but, with Robinhood now announcing that it's laying off 23% of its staff, there are other challenges that abound (to be fair, Robinhood's troubles are also partially related to the crypto market). These instances beg the question: what happens when a FinTech service shuts...